Comments section on CR

[jemery]

Good Morning... Understanding that the CR must have accurate and true data, I was wondering about the "Comments" section. If one has been discharged, and a specific creditor has updated their report by clearing the balance, charge off data, etc.. can they still leave remarks in the comments section regarding the account? For instance, one creditor updated their report to say "included in bankruptcy" in the Status field, but in the Comments field, they have "not more than 2 payments past due".

The comment is true, throughout the history of the account, saying that I was not more 2 payments late is accurate. But can they still report that if the account was included in the Bankruptcy?

I suppose a summary question would be, if an account is included in the bankruptcy, can the credit populate the comments section with anything?

Thank you!

[HHM]

Short answer, yes they can. And given you filed bankruptcy, that is not a bad comment to have on your report.

Remember, your credit report is your credit "history". Bankruptcy only effects your "status" with your various creditors, but not your history. So, yes, your creditors can report, for example, negative payment history (assuming the negative payment history they are reporting is pre-petition) despite the fact your filed bankruptcy. When you file bankruptcy at least 3 things must happen on your credit report.

1. For all unsecured accounts that were discharged in your bankruptcy, the balance owed should be zero.
2. For all unsecured accounts that were included and discharged in your bankruptcy, the "status" of that account should say either "included in bankruptcy" or "discharged in bankruptcy.
3. In the public records section of your credit report, it will reference your bankruptcy and usually give the date, chapter, and case # of the filing.

Sometimes other status entries are used like, "Closed by grantor" etc.

[jemery]

Thank you for such a complete answer. That leads me to one follow-up if you don't mind. While I keep reading that scoring is still a bit of a mystery, do we know if the status and/or comments section contribute to the overall FICO score? I would assume that whether they do or do not, the fact that the comments section can have accurate history data would be just as hurtful as other fields. If 20 creditors all leave a comment that you have been 120 days late, that regardless of the FICO score, whomever is reading the report would notice and act on those negative comments, and offer/decline credit accordingly.